The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1887-10-28
MANKATo REALTY.
A Magnificent Showing for the Past Year
and Bright Promise for the Future.
Immense Rise In Values.


Immense Rise In Values.
No other exposition of Mankato's pros
perity is needed than a comparison oil
the values of her real estate to-day with
those of one year ago to show that our
beautiful city is keeping pace with the
progress of the times. Surrounded as
we are By the rapid whirl of business
which characterizes jobbing and ship
ping center, and permeated through ev-
cry fibre with the spirit of push and
progress that is peculiar to Western cit
ties, we allow ourselves but little time to
take retrospective view of our accom-
plishments. Yet from the victories OF
the past is the courage drawn which
gains those of the future
The past year has been an active one
in real estate in this city, comparatively
speaking. During the summer months
the dulness that everywhere prevailed
made It's influence felt here. Real estate
was active during the spring months,
however, and is now picking up.under
the reviewing influence of increased bus
mess activity and the brighter future
that has recently been opened before
Mankato.
Nearly all of the real estate men in the
city have been interviewed by FREE
Press reporter, and from them he has
learned few facts with regard to Man
kato realty that may be of interest.
First, the advance in value in the course
of the past twelve months. Taking the
city right through, the average advance
in prices has been about twenty-five per
cent. The estimates of the agents vary
from twenty to thirty per cent. but the
majority unite on the figure stated. In
many parts of the city the advance has
reached the enormous figure of one hun
dred per cent In other parts it has
been but slight, if anything. Inside
property has advanced more than the
outlaying districts, while business prop
erty, especially from Main street south,
has as general thing advanced the most.
the most extraordinary rise has occurred:
Second. south of Main, State, Byron and
Pleasant streets, and the greater part of
West Mankato. On other streets very
notable rises have now and then been
recorded.
Second, the ordinary prospects for this
fall. On this point there is gratifying
unanimity of opinion amongt the dealers.
The prospects are favorable for gradual
and sure rise that might perhaps reach
ten per cent. the city through. Real es-
tate has been holding its own during the
summer, and has just begun to advance
slowly in value, with healthy demand.
Inquiries are numerous from outside
parties, and farmers are doing some buy
ing as investments. Many lots are being
taken up for residence purposes by COM
paratiyely poor people.
Third, in case the anticipated freight
rates are obtained, with show of per-
manency, additional impetus will be
given to the real estate interests.
The real estate men vary on
this point from ten to twenty-five per
cent. There is an uncertainty as to the
extent of the advantage to be derived
from the reductions, though all unite in
believing that agoodly amount of benefit
will accrue. 1t is hoped and expected
that new jobbing interests will spring up,
requiring new buildings and materially
increasing the population of the city.
1t can be stated that the average expec-
tations of the dealers are that there will
be an almost immediate rise of twenty
per cent i'm values This is but an incl
dental benefit to be derived from the &C
ton of the railroads, and one little
thought of in the contemplation of the
greater advantages owing their existence
| to the same cause, but how important in
its way
This remarkable rise in real estate is
based on no infirm foundation; it is no
| fictitious value which it will require
years for the real value to equal; it is
no "boom'' whose bottom is liable to fall
out IN few short months, leaving the
unfortunate investor to lament the loss
of his misplaced capital. On the con-
trary it is the steady, safe increase which
is due to TO the honest growth of the city
and to no other cause. 1t is the result of
the increase in population of the city,
and the rapid absorption of unoccupied
lots for actual residence purposes. The
money that is invested in Mankato prop
erty is as safe as though it were secured
i'm the stone vaults of the Bank of Eng
land.
1t is as gratifying as it is surprising to
note the unequaled enhancement of val
ues during the year, and to view the
prospects for the future. The steady
rise in landed property is sure indica-
ton of prosperity.
Mankato needs and wants no "boom,"
AS her citizens have already seen the dis
astrous results of artificial values in 9th
er cities, and have no ambition to follow
in their footsteps. Her citizens may well
be proud of the magnificent showing
made, and may well turn an admiring
gaze upon the statistics of her real prop
erty, the monitor of her prosperity.